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Popular crypto trader known by his nickname “DonAlt” recently shared updated perspectives on the price action of two of the hottest alternative cryptocurrencies today: Dogecoin (DOGE) And XRP.
These two popular cryptocurrencies have gained more than 140% each since at least the start of the month, and although they already have tens of billions of dollars in assets, they have become the biggest gainers in the altcoin space as Bitcoin updates its all-time highs almost daily.
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However, DOGE and XRP do not go “band for band” in terms of price performance, since, for example, the latter has gained 37% more over the last two days, while the former can only boast gains of 8.8%.
This type of divergence caught the attention of DonAlt, whose articles recently addressed the issue of Dogecoin and XRP. In his outlook and attached price chart, the trader described a possible scenario in which the price of DOGE could follow the pattern shown by XRP over the past two days.
The trader’s conviction is based on the behavior of two assets that have entered an accumulation phase after a rapid price surge. If XRP has already reached this milestone with a stunning performance over the past two days, DOGE price is still stuck in a tight range, with several unsuccessful breakout attempts.
DOGE and/or XRP?
If the trader is correct in his assessment and DOGE bulls prove their ambitions, we could see this scenario come true and both altcoins reach new local highs in synergistic action, as they did earlier this month .
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However, this is not set in stone, and although they are in the spotlight, nothing connects the two veterans of the crypto market. So, even if XRP rises or DOGE fails, it doesn’t necessarily mean one will follow the other. On the other hand, there is certainly room for some sort of convergence, and that is something to look at.